CANCUN, Mexico Nations of the world on Saturday agreed a package of climate change initiatives, including billions of dollars in funding for poor countries, although it failed, to adopt a binding climate treaty a stalemate between the United States, China, Japan and other Nations in the middle.
The agreement calls on rich countries to cut their greenhouse gas emissions by amounts Nations promised a year ago, although the sections are not legally binding. Developing countries are to come up with plans their emissions in a worldwide effort to limit to reduce global warming to less than 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels. The agreement containing Green Fund and $100 billion per year plans for helping the richer countries by 2020, programs finance poor countries would provide, reduce emissions and to cope with drought and other effects of global warming.
Environment Ministers in Cancun welcome climate Pact talks, reached while Bolivia is isolated in appeal. Video courtesy of Reuters.Felipe Calderon, President of Mexico, hosted the Conference in Cancun, praised the delegates to forge a new path in the fight against climate change.
"Today, with this Conference we have the opportunity, building begin a new history in which economic growth, the conquest against poverty and living in harmony with the environment within reach is," he said at the Conference.
Mr Calderon added that while the agreement short of a contract which would ensure steep cuts in emissions fell, the trust and upbeat mood among the participants at the Cancun Conference countries an ambitious agreement would help.
Has frozen talks about a global climate treaty and the future of the existing Kyoto Protocol climate treaty in question thrown a stalemate between the United States, China, Japan, India and other countries. But diplomats said they hoped the Cancun plan could pave the way for a legally binding climate agreement at the meeting of Governments in UN climate summit in Durban, South Africa next year.
ZUMAPRESS.com Nations of the world agreed on Saturday to a package of climate change initiatives.U.S. climate Envoy Todd Stern said a lot making progress in talks with China and India on key issues such as transparency in the tracking and reporting on emissions and a mutual agreement on such cuts USA. He pointed out that, while the Copenhagen Accord commitments were important, that agreement was not accepted while the adopted Cancun agreement and has a legal basis.
"It is a positive thing to display a worldwide agreement all major economies," Mr. star told reporters after the Conference. "The commitment to action by the Chinese is a pretty important agreements and to do so in an international way."
Japan said that it would oblige the Kyoto Treaty on a second phase, unless the world's largest greenhouse gas emitters, China, the USA and India, agreed, theirs under a legally binding contract. The first phase of the contract ends in 2012.
The United States which signed but never ratified the Kyoto Treaty, has long argued that it would agree not authorised emission cuts, unless it also agreed to limit emissions China and other fast growing economies. But at climate negotiations in Copenhagen a year ago the United States and made voluntary obligations to reduce their greenhouse gas emissions in China.
China claims it as a developing country, the resources have not or responsibility, to reduce as its economy grows aggressive emissions.
India originally had a similar position although it softens it this week saying it would keep consent to mandated cuts at some point in the future.
The emissions reduction targets of the second phase of the Kyoto Protocol, while the door for an alternative arrangement based on promises made to a climate to leave open the USA, China and other countries are Summit thought last year in Copenhagen.
The United States suggested that it could agree with greenhouse gas emissions cuts binding when you were a business based on the Copenhagen accord part.
Bolivian climate Envoy Pablo Solon criticized the Cancun package for not go far enough to ensure that rich countries reduce their greenhouse gas emissions, too vague to where would the $100 billion a year come from is and too many market-oriented funding programs.
Write toCassandra sweet cassandra.sweet@dowjones.com
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